Tax Tools
1040 Federal Tax Estimator
Use this simplified federal estimator to frame taxable income, deduction assumptions, and estimated federal liability before a deeper planning review.
Input Panel
Assumptions & Disclaimer
- Federal estimate only. State and local tax are not calculated in Phase 1.
- Does not model AMT, QBI, NIIT, phaseouts, credits, entity-level taxes, or specialized elections.
- Standard deduction is compared with itemized deductions using editable Phase 1 constants.
These tools provide preliminary estimates for informational purposes only and do not constitute tax, accounting, legal, investment, or financial advice. Results may vary based on facts, elections, deductions, credits, state and local rules, entity structure, financing terms, and other considerations. Consult Covault or another qualified advisor before making decisions based on these estimates.
Results Panel
Adjusted gross income
$200,000
Deduction used
$15,000
Taxable income
$185,000
Estimated federal tax
$37,160
Effective rate
18.6%
Marginal rate
24.0%
Advisory Review
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Future Enhancements
TODO: add PDF export, saved scenarios, client portal integration, CRM/email integration, AI-assisted explanation of results, state tax calculations, multi-year tax planning, and QBO/client data integration.